McDonald’s (MCD) shares are in focus today as the company gets read to launch its first ever loyalty program on July 8.
McDonald’s tested a regional loyalty program last Fall and began expanding it to new markets in the U.S. throughout the year. On July 8th, the program will go nationwide.
It’s the first ever such loyalty program for McDonald’s and follows recent moves by other fast food companies. Yum Brands’ Taco Bell, for example, has created a loyalty program and Chipotle (CMG) is expanding its two year old program by enabling customers to redeem points for more rewards across its entire menu.
The hope is that the rewards will encourage returning customer visits, thereby boosting sales.
McDonald’s will allow customers to earn 100 points for every dollar they spend. The reward items will cost, in some cases, 1,500 points for a cheeseburger — or 6,000 points for a Happy Meal.